Global Navigation Satellite System (GNSS) Chip Market Grows at a Staggering CAGR of 15.94%

Introduction

A constellation of satellites known as the "global navigation satellite system" (GNSS) transmits signals from space to GNSS receivers, transmitting positioning, navigation, and timing data. It provides users worldwide with precise real-time positioning and timing services and uses satellite navigation systems like GPS, GLONASS, Beidou, and Galileo. There are currently three fully functional GNSS systems in use across the globe. The Global Positioning System (NAVSTAR) of the United States, the European Union's Galileo, and the Russian Federation's Global Orbiting Navigation Satellite System (GLONASS) are placed in that order.

Market Dynamics

Increasing Importance of Accuracy in Real-Time Data Drives the Global Market 

Real-time Due to the rising demand for real-time positioning and timing applications, such as surveying and mapping, smart cities, connected and autonomous vehicles (CAVs), environmental monitoring, geological disaster monitoring, structural health monitoring (SHM), etc., GNSS precise positioning and services have become more and more popular. Autonomous vehicles can share the road now that positioning and sensor integration has advanced. GPS technology's precision, availability, and dependability are essential for self-driving cars. Sensors are vital to AVs because they enable localization, path planning, decision-making, perception of the surrounding environment, and other motion-controlling functions. AV uses cameras, radar, LiDAR, and ultrasonic sensors to comprehend its surroundings. Additional sensors like odometry, GNSS, and IMU determine the vehicle's absolute and relative positions.

Concentration on Innovations Creates Tremendous Opportunities

Modern applications like automated parking, autonomous driving, and logistics all rely on GNSS technology, as do the Internet of Things and the Internet of Vehicles. Furthermore, u-blox has been closely monitoring the modernization of the BeiDou navigation system and is ready to collaborate with business partners to support expanding industry applications and emerging markets. Increasing GNSS security has been given top priority by most GNSS stakeholders. To increase receiver security and robustness, device manufacturers have increased their research and development efforts. With the help of SAS, PRS, and the Galileo OS-NMA, the European Union has been a pioneer in the field. Several significant vendors are enabling GNSS chips with Galileo, and it is anticipated that emerging markets will concentrate on promoting chips with Galileo for security reasons. The market focuses on advancements predicted to raise product demands within the expected time frame.

Regional Analysis

Asia-Pacific is the highest revenue contributor and is anticipated to grow at a CAGR of 17.6% during the forecast period. China and Europe have various perspectives on GNSS. Eleven GNSS-enabled technical groupings in Europe cover various topics, from consumer goods to critical infrastructure. The industrial, mass consumer, and niche markets were the three. In 2021, China's 14th five-year plan was made public. China's 2035 vision is outlined in a five-year plan. The GNSS industry in China is impacted by the focus on R&D and innovation in the 14th Five-Year Plan. Deepen the use of BeiDou systems and the promotion of high-quality industry development. The strategy will promote BeiDou's industrial application, quicken advancements in core technologies, and boost GNSS industry R&D. The development of GNSS is fragmented, chaotic, and constrained. Most upstream businesses face fierce competition for low-end equipment, which reduces their profits. Even though rail, transportation, and construction allow the industry to operate independently, GNSS equipment manufacturers can only enter the high-end mass application market with policy support and direction.

North America is anticipated to grow at a CAGR of 16.34% during the forecast period. A military force's position, velocity, and time can be precisely determined by the Navstar GPS, an all-weather, space-based navigation system, anywhere on or near the Earth continuously. The US Department of Defense created it (DoD). Almost all positioning, navigation, timing, and monitoring applications have benefited from GPS. A GPS receiver can decode satellite signals and use them to calculate position, velocity, and time. The region's market is growing due to increased demand for IoT and cloud technology, as well as increased sales of commercial vehicles. The GSMA forecasts that by 2025, the region will have over 100 million IoT-connected devices and a comparable number of smart cars. These devices actively use global navigation satellite systems for positioning and navigation.

Key Highlights

• The global navigation satellite system (GNSS) chip market was valued at USD 189.16 million in 2022. It is projected to reach USD 716.02 million by 2031, growing at a CAGR of 15.94% during the forecast period (2023-2031). 
• Based on device type, the global navigation satellite system (GNSS) chip market is bifurcated into smartphones, tablets and wearables, personal tracking devices, low-power asset trackers, and in-vehicle systems. The smartphone segment is the highest contributor to the market and is expected to grow at a CAGR of 14.46% during the forecast period.
• Based on the end-user industry, the global navigation satellite system (GNSS) chip market is bifurcated into automotive and consumer electronics. The consumer electronics segment is the highest contributor to the market and is expected to grow at a CAGR of 14.72% during the forecast period.
• Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 17.6% during the forecast period.

Competitive Players

1. Qualcomm Technologies Inc.
2. Mediatek Inc.
3. STMicroelectronics NV
4. Broadcom Inc.
5. Intel Corporation
6. U-Blox Holdings AG
7. Thales Group
8. Quectel Wireless Solutions Co. Ltd
9. Skyworks Solutions Inc.
10. Furuno Electric Co. Ltd
11. Hemisphere GNSS
12. Trimble Inc.
13. Sony Group Corporation

Recent Developments

Recent Developments

• May 2024 - OneNav, a global navigation satellite system (GNSS) technology provider, announced the release of L5-directTM, a new class of GNSS products that can directly monitor and acquire L5-band signals. The launch coincides with opponents like Russia tampering with GPS systems across Europe; Russian forces have effectively employed GPS blackout technology to obstruct American-made drones in the Ukrainian conflict.
• January 2024 - Chinese smartphone manufacturer Oppo debuted the Find X7 Ultra with direct satellite communication capability in early January of 2024, while Xiaomi is anticipated to launch the Xiaomi 14 Ultra, the company's first phone with two-way satellite connectivity, in the first quarter of the same year.

Segmentation

1. By Device Type
   1. Smartphones
   2. Tablets And Wearables
   3. Personal Tracking Devices
   4. Low-Power Asset Trackers
   5. In-Vehicle Systems
2. By End-User Industry
   1. Automotive
   2. Consumer Electronics